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Mobile Phone Insurance Market Set to Surge to $56.56 Billion by 2028 with Trends in Cybersecurity and AI Integration Shaping the Industry

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DUBLIN, March 4, 2024 /PRNewswire/ — The “Mobile Phone Insurance Global Market Report 2024” has been added to ResearchAndMarkets.com’s offering.

The mobile phone insurance market size is expected to see rapid growth in the next few years. It will grow to $56.56 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The anticipated growth in the forecast period can be attributed to ongoing innovations in smartphones, the expansion of mid-range and premium device segments, the availability of customized and flexible insurance plans, the surge in e-commerce and online device sales, and the overall trend toward increased digitalization and connectivity. Key trends expected during this period encompass coverage for digital wallets and cybersecurity, flexibility in premium payment models, a focus on sustainability and eco-friendly practices, the integration of artificial intelligence in risk assessment, and the exploration of global expansion opportunities, particularly in emerging markets.

The rising adoption of smartphones is expected to significantly drive the expansion of the mobile phone insurance market in the coming years. Smartphones, portable electronic devices with cellular network connectivity, have become increasingly prevalent. A reliable mobile phone insurance plan offers coverage for necessary repairs or replacements, fueling the growth of the mobile phone insurance market alongside the increasing smartphone adoption. For instance, a report from Uswitch Limited published in 2022 indicated that there were 71.8 million active mobile connections. Projections suggest that by 2025, the UK will have a population of 68.3 million, with 95% of individuals owning smartphones. This surge in smartphone adoption is a key factor propelling the growth trajectory of the mobile phone insurance market.

The rise in phone theft incidents is expected to be a significant driver behind the growth of the mobile phone insurance market in the foreseeable future. Phone theft involves the unlawful acquisition or stealing of someone’s mobile phone or smartphone device. Victims of phone theft often rely on mobile phone insurance to recover from the financial loss incurred due to the stolen device. This insurance coverage extends to replacement or repair costs associated with the stolen phone, providing a practical solution to mitigate the financial impact of theft. For instance, according to data from the London Metropolitan Police in December 2023, there were 90,864 reported phone thefts in 2022, averaging to 249 phones stolen each day. These incidents of phone theft highlight the growing need for mobile phone insurance as individuals seek protection against potential financial losses due to theft. Thus, the escalating frequency of phone theft incidents serves as a driving force behind the growth of the mobile phone insurance market.

Product innovation stands as a prominent trend gaining traction within the mobile phone insurance market. Key companies in this sector are placing a strategic focus on developing novel insurance products to cater to evolving consumer needs. For instance, in May 2023, Switched On Insurance, a UK-based gadget insurance company, introduced a new mobile phone insurance offering. This comprehensive and cost-effective insurance policy is designed to safeguard devices, specifically those under 36 months old. The company’s mobile phone and gadget insurance come with various features, including unlimited claims and a 12-month warranty. The coverage extends to mobile devices while in use, ensuring protection during active use. Additionally, customers have the flexibility to cancel the insurance policy within the cooling-off period, typically set at 14 days. This innovative approach aims to meet consumer demands for comprehensive coverage and flexible policy options within the mobile phone insurance market.

Major companies within the mobile insurance policy market are increasingly adopting a strategic partnership approach to bolster the accessibility of insurance products and address emerging risks associated with customers’ digital lifestyles. 

North America was the largest region in the mobile phone insurance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global mobile phone insurance market during the forecast period. The regions covered in the mobile phone insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the mobile phone insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Mobile phone insurance caters to various phone types, categorized into budget phones, midrange and high-end phones, and premium smartphones. Budget phones typically offer optimal specifications for their cost. The insurance coverage spans several areas, including protection against physical damage, internal component failure, theft and loss, virus and data protection, among other coverages. These insurance policies are available through diverse distribution channels such as mobile operators, device OEMs (original equipment manufacturers), retailers, online platforms, and other channels. The end-users encompass both corporate and personal relationships seeking coverage for their mobile devices.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.The forecasts are made after considering the major factors currently impacting the market. These include:The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.The impact of higher inflation in many countries and the resulting spike in interest rates.The continued but declining impact of COVID-19 on supply chains and consumption patterns.Market segmentations break down the market into sub markets.The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Report Scope

Markets Covered:

By Phone Type: Budget Phones; Mid and High-End Phones; Premium SmartphonesBy Coverage: Physical Damage; Internal Component Failure; Theft and Loss Protection; Virus and Data Protection; Other CoveragesBy Distribution Channel: Mobile Operators; Device OMEs (Original Equipment Manufacturer); Retailers; Online; Other Distribution ChannelsBy End-user: Corporate; Personal

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita

Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments

Companies Profiled

Apple Inc.AT&T Inc.American International Group Inc.SoftBank Corp.Liberty Mutual Insurance CompanyOrange S.A.The Chubb CorporationXiaomi CorporationNokia CorporationAviva Life Insurance Company LimitedSingapore Telecommunications LimitedAssurant Inc.Brightstar Corp.Telefonica Brasil S.A.Motorola Solutions Inc.AmTrust FinancialAsurion LLCDebenhams plcTaurus Insurance Services LimitedBolttech Management LimitedSquareTrade Inc.U Mobile Sdn Bhd.ServifyDigital Care Sp. z o.o.CoverCloud InsuranceGoCare Warranty GroupOPPO Electronics Corp.Better Buy Insurance Co.Pier Insurance Managed Services Ltd.Direct General Insurance Company

For more information about this report visit https://www.researchandmarkets.com/r/t88bw1

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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SOURCE Research and Markets

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Technology

iFOREX Lists on London Stock Exchange, Supporting Focus Across Global and Indian Markets

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April 29, 2026

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LONDON, April 17, 2026 /PRNewswire/ — iFOREX today announced its recent admission to the Main Market of the London Stock Exchange (LSE) under the ticker IFRX, at a market valuation of approximately £43.3 million. This milestone marks a significant step in the Company’s long-term growth strategy and supports its continued expansion across international markets, including a growing focus on India.

With over 30 years of experience in the online trading industry, iFOREX has established a strong global presence built on proprietary technology, consistent innovation, and disciplined risk management. The Company continues to deliver advanced trading solutions alongside a high standard of client support, designed to meet the evolving needs of retail traders in dynamic markets.

Through its proprietary web-based and mobile trading platforms, iFOREX provides access to over 900 financial instruments, including foreign exchange, commodities, indices, stocks, cryptocurrencies, and ETFs. The Company continuously enhances its technology and product offering to deliver a seamless, secure, and efficient trading experience for its global client base.

India represents an increasingly important market for iFOREX, supported by a rapidly growing base of digitally engaged traders and rising interest in global financial markets. The Company aims to strengthen its presence by offering localized support, tailored educational resources, and technology-driven solutions aligned with the needs of Indian traders.

The Company’s admission to the London Stock Exchange enhances its visibility and credibility as a global fintech provider, focusing on investing in platform development, optimizing client experience, and scaling its international operations to support long-term growth.

“Our listing on the London Stock Exchange represents an important milestone in iFOREX’s evolution as a global trading provider,” said Itai Sadeh, Chief Executive Officer of iFOREX. “We see significant potential in the Indian market, driven by strong demand for digital trading solutions and increasing participation in global markets. We remain committed to expanding our presence in India while continuing to invest in technology, innovation, and client experience.”

iFOREX will continue to monitor market developments, adapt its offering to the needs of traders across different regions, and focus on delivering reliable services, transparent trading conditions, and long-term value to its clients and stakeholders.

Find out more here: iFOREX Website

This press release is intended solely for media use. It is not meant for individual investors and does not contain personal advice or recommendations.

 

View original content:https://www.prnewswire.com/in/news-releases/iforex-lists-on-london-stock-exchange-supporting-focus-across-global-and-indian-markets-302755696.html

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iFOREX Lists on London Stock Exchange, offering Cryptocurrency trading (CFDs) Across Global and LATAM Markets

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April 29, 2026

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LONDON, April 29, 2026 /PRNewswire/ — iFOREX today announced its admission to the Main Market of the London Stock Exchange (LSE) under the ticker IFRX, with a market valuation of approximately £43.3 million. This milestone represents a major step in the Company’s global growth strategy and supports its continued expansion across international markets, including cryptocurrency CFD trading for retail investors in Latin America (LATAM) and beyond.

The listing underscores iFOREX’s commitment to combining traditional financial instruments with the evolving opportunities presented by the cryptocurrency market. Over the past decade, iFOREX has offered retail traders access to a broad portfolio of crypto CFDs, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and a growing range of other digital assets, alongside forex, commodities, indices, equities, and ETFs. The Company’s proprietary online and mobile platforms allow traders to seamlessly navigate both crypto and traditional markets from a single interface.

With more than 25 years of experience in online trading, iFOREX has built a solid global presence based on proprietary technology, disciplined risk management, and continuous innovation. By integrating crypto trading alongside traditional instruments, the Company provides traders with diversified opportunities, enhanced liquidity, and sophisticated tools to manage risk and capitalize on market trends.

Latin America represents a particularly high-growth region for cryptocurrency trading, supported by increasing digital adoption, rising interest in global financial markets, and a growing number of self-directed retail investors. iFOREX is committed to strengthening its presence in the region by offering localized services, multilingual support, and educational resources specifically designed to help LATAM clients engage confidently with both crypto and forex markets.

The LSE listing enhances iFOREX’s credibility and visibility as a global fintech provider while supporting its strategy to expand crypto trading offerings, scale operations, and provide long-term value to clients and shareholders. The Company continues to focus on platform innovation, regulatory compliance, and the development of tools that allow traders to execute informed and secure transactions across all available markets.

Itai Sadeh, Chief Executive Officer of iFOREX, commented:

“Our admission to the Main Market of the London Stock Exchange represents a landmark moment for iFOREX and reflects our commitment to innovation in financial trading, including cryptocurrencies. Latin America presents strong growth potential in digital assets, and we are focused on providing robust, reliable platforms, localized education, and tools that empower traders to access opportunities across both crypto and traditional markets.”

Looking forward, iFOREX plans to expand its crypto product offering, explore emerging digital asset trends, and continue delivering a secure, innovative, and client-focused trading experience to retail investors worldwide.

 

View original content:https://www.prnewswire.co.uk/news-releases/iforex-lists-on-london-stock-exchange-offering-cryptocurrency-trading-cfds-across-global-and-latam-markets-302755709.html

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Temu and QIMA Partner to Strengthen Product Testing and Platform Compliance

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April 29, 2026

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DUBLIN, April 29, 2026 /PRNewswire/ — Temu, the global e-commerce platform, and QIMA, a leading testing, inspection, and certification company, today announced a partnership to strengthen product compliance and safety across the Temu platform. Under the partnership, QIMA’s testing and certification services will be integrated directly into Temu’s Seller Center, making compliance resources accessible to sellers.

QIMA will deliver independent product testing, on-site factory inspections, seller training programs, and digital compliance tools. Product testing will cover four initial categories: electrical and electronic goods, jewelry and gemstones, food contact materials, and light industrial products. Testing will be conducted against applicable regulatory and safety standards. QIMA will also conduct on-site factory inspections for selected sellers to verify production processes and supply chain practices at the source.

The Temu-QIMA partnership also includes structured training programs designed to help sellers better understand testing standards and regulatory requirements across markets, along with regular roundtables and workshops on evolving rules, policy developments, and compliance approaches.

“As e-commerce platforms serve more markets and more product categories, independent compliance infrastructure becomes essential, not optional,” said Pierre-Nicolas Disser, CEO of Consumer Products, QIMA. “This partnership, and particularly the integration into Temu’s Seller Center, is a step toward making compliance testing and certification a routine part of how sellers operate. That’s exactly the kind of work QIMA’s global network was built for.”

The partnership with QIMA builds on Temu’s broader product safety and compliance program. In 2025, the company invested approximately US$100 million globally in compliance, product safety, and quality control, with plans to double that investment in 2026. To date, Temu has established cooperation with more than 60 independent testing institutions worldwide. The partnership with QIMA represents one of the first integration of third-party compliance tools directly into the Temu Seller Center workflow.

“Temu prioritizes the safety of products on our platform, and our partnership with QIMA is a concrete step in that direction,” said a Temu spokesperson. “Together with QIMA, we are focused on providing consumers with a safe and trustworthy shopping experience, while making compliance resources more accessible to sellers on our platform.”

About Temu

Temu is a global e-commerce platform connecting consumers with millions of manufacturers, brands, and business partners. Operating in more than 90 markets worldwide, Temu is committed to providing affordable, high-quality products that enable customers to live better lives.

About QIMA

At QIMA, we are on a mission to help our clients make products consumers can trust. We have developed compliance solutions for testing, inspection and certification (TIC) that enable supply chain agility, sustainability, and product innovation. Our services are used by 30,000 businesses globally in the consumer products, agri-food and life sciences industries. What truly sets us apart is our unique culture of relentless care for our clients, and a commitment to offering intuitive solutions that blend deep tech and human intelligence; this is how QIMA continues to disrupt the Testing, Inspection and Certification industry.

SOURCE Temu

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